Mt. Gox Adds Japanese Yen as Repayment Option; Early Payments Possible

IconCrypto News Terminal22 Apr, 2024

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Mt. Gox Adds Japanese Yen as Repayment Option; Early Payments Possible

Mt. Gox, the infamous cryptocurrency exchange that went bankrupt in 2014, has added the Japanese yen as a repayment option for its creditors. This move could expedite the repayment process, which is currently scheduled to begin on October 31, 2024. The addition of the Japanese yen as a repayment option is a significant development, as it gives creditors more flexibility in how they receive their funds. Previously, creditors were only able to receive repayments in Bitcoin (BTC), Bitcoin Cash (BCH), or Japanese yen. The market is concerned about the potential sell-off that could result from the repayment of the bonds. However, the addition of the Japanese yen as a repayment option could help to mitigate this risk by providing creditors with more options for diversifying their portfolios. Previously on [date], Mt. Gox had begun the process of repaying customers for BTC and BCH in January. The repayment amount is reportedly 142,000 BTC, 143,000 BCH, and 69 billion yen.

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